Forex dealers said besides heavy selling of the American currency by banks and exporters, a higher opening in the domestic stock market, supported the rupee.
Investors in West Asia can now trade in Indian currency with Dubai Gold and Commodity Exchange announcing on Wednesday the launch of world's first Rupee Currency Contract.
The global brokerage firm further said that BoP would be INR-supportive.
The butchering of the Indian Rupee need not come in the way of your dream international vacation says Anita Rao Kashi.
Sentiments were also bearish largely in tandem with a sell-off in global markets as US Treasury yields surged to multi-year highs on robust economic data and comments from the Federal Reserve, sparking fears of accelerating inflation, brokers said.
India's growth outlook has weakened sharply this year, with a crunch that started with the non-banking finance institutions spreading to retail businesses, car-makers, home sales and heavy industries.
Markets consolidated in late trades to end lower as investors booked profits after the benchmark indices ended at their all-time closing highs yesterday.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Panasonic India is set to increase the prices of its products by up to 7 per cent, while some others players have already increased it.
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The Sensex and the Nifty touched an intraday high of 19,724 mark and 5,949 levels, respectively. Foreign Institutional Investors also turned buyers during the previous two sessions, exchange data showed.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
BSE Oil & Gas, Healthcare and IT indices have surged by 3% each followed by counters like TECk, Banks, Realty, PSU, Power and Metal, all gaining between 1-2%.
Amid all the gloom on the economic and financial front, Sandesh Kirkire, CEO, Kotak MF, suggests five bold measures to get the Indian economy back on the growth path, arrest the rupee's downfall and address India's bulging current account deficit.
Government and Reserve Bank to take steps to arrest the fall of the currency.
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
Is unhappy about banks' reluctance to pass on lower interest rates.
Rupee's misunderstood fall is far from over despite some near-term respite.
Most Asian currencies are on a slide on worries about the withdrawal of US stimulus.
Gains in IT shares and Bharti Airtel helped offset losses in HDFC Group shares.
Asian stock, bond and currency markets took another big hit after a fresh spike in US interest rates re-ignited concerns about capital flows from the region and forced investors to pare back their Asian portfolios.
The Indian rupee has neared the record low of 57.32 per dollar that it hit in June 2012.
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Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
BSE Metal index has spurted by almost 3% followed by counters like Banks, Realty, PSU and Oil & Gas, all gaining by 2% each.
Dollar gains against other currencies overseas amid euro zone debt concerns also put pressure on the Indian rupee.
India's benchmark share indices opened 1% higher on Thursday, amid firm global cues, led by index heavyweights Reliance Industries, Infosys and private banks.
With the Indian rupee falling almost 7 per cent against the US dollar since January 2013, Indian students in universities abroad or those planning to go abroad this year will have to increase their budget by at least 10 per cent compared to what it would have been late last year.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
FM brings these sectors under the knife in a final attempt to hit a tough fiscal deficit target
England stumper-batsman Jos Buttler says there is nothing wrong with cricketers wanting to specialise in a particular format and believes the lucrative Indian Premier League has changed the "climate" of the sport considerably.
These notes will be legal in Nepal only when India issues a FEMA notification as per the Foreign Exchange Management Act.
Analysts expect the central bank to remain watchful of inflation.
MSI expects the royalty paid to parent Suzuki Motor Corp to come down starting with its upcoming compact SUV as its engineers enhance their role in the joint development of future products.
The domestic currency moved in a range between Rs 52.80 and Rs 53.18 per dollar during morning deals.
Forex dealers said strength in euro against the US dollar overseas and increased capital inflows supported the rupee.
Forex market was closed on Thursday on account of Ganesh Chaturthi.
The dollar index was down by 0.16 per cent against its six major global rivals.
Globally, the dollar index was trading up by 0.1 per cent against the basket of six major currencies on optimism that the US economy is improving.
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